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Royalty Revenue: $15 million in Q1 2025, down from $15.4 million in Q1 2024.
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Adjusted EBITDA: $9.5 million in Q1 2025, compared to $10.9 million in Q1 2024.
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Adjusted Operating Cash Flow: $4.1 million in Q1 2025, slightly up from $4.0 million in Q1 2024.
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Net Earnings: $6.3 million or $0.13 per share in Q1 2025, up from $4.8 million or $0.10 per share in Q1 2024.
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Adjusted Net Earnings: $0.05 per share in Q1 2025, lower than the previous year.
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Debt Repayments: $2.0 million during the quarter.
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Cash Dividends Paid: $3.8 million in Q1 2025.
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Liquidity: $12.1 million in cash and $116 million in unused revolver room as of March 31, 2025.
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ARR Cash: $31.7 million as of March 31, 2025.
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GBR Joint Venture Cash: $40.8 million USD and available liquidity of $85 million under its credit facilities.
Release Date: May 14, 2025
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Positive Points
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Altius Minerals Corp (ATUSF) reported net earnings of $6.3 million or $0.13 per share for Q1 2025, up from $4.8 million or $0.10 per share in Q1 2024.
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The company experienced higher base metal prices and copper deliveries from Chapada, contributing positively to revenue.
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There was a significant capital investment commitment from Rio Tinto LLC in the iron ore sector, indicating strong future prospects.
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Altius Minerals Corp (ATUSF) has a strong liquidity position with $12.1 million in cash and $116 million in unused revolver room.
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The renewable royalty portfolio is growing, with ARR having cash of $31.7 million and the GBR joint venture holding $40.8 million in cash and $85 million in available liquidity.
Negative Points
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Royalty revenue for Q1 2025 was $15 million, slightly down from $15.4 million in Q1 2024.
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Adjusted EBITDA decreased to $9.5 million from $10.9 million in the prior year quarter.
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The company faced lower potash volumes, which negatively impacted revenue.
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Higher tax payments and lower royalty revenue receipts affected the adjusted operating cash flow.
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The adjusted net earnings per share of $0.05 were lower than the first quarter of 2024, impacted by an unrealized loss on derivatives and tax recovery adjustments.
Q & A Highlights
Q: Just on the silicon origin transaction, has that changed your thinking about how you want to move forward? A: Brian Dalton, President, CEO: No, it provides another data point on the potential market value of the asset. Our job is to assess the royalty's worth to our shareholders and decide how to best optimize value, whether through a transaction or within our business structure.